The latest UK Construction Market Barometer, published in May 2018, shows that sales expectations in the construction sector over the next six months have dropped since April last year.
44% of companies are confident of a sales increase over the next six months compared to 56% in April 2017. The housing market, both new build and repair and maintenance, is expected to be the best performing sector. The average sales increase over the last six months (October 2017 to March 2018) compared to a year earlier was 2.8%; a decrease from 4.3% seen in April 2017.
Marketing budgets have seen a slight increase compared to April 2017. The average forecast increase in marketing spend for the next 12 months has increased from 0.3% in April 2017 to 1.6% in Aprl 2018.
Mel Budd, Director of the report’s publishers, Leading Edge sAYS: “The survey shows that 42% of companies are planning an increase in their marketing budgets, with 34% looking to increase their headcount over the next year.”
Mel commented that “Brexit is continuing to cause uncertainty in the UK construction industry, with labour availabitlity, labour costs and increasing material costs due to exchange rates causing concern,” concludes Budd.
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